Amcor plc (NYSE:AMCR) Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC trimmed its stake in shares of Amcor plc (NYSE:AMCR) by 65.0% during the third quarter, Holdings Channel reports. The institutional investor owned 10,424 shares of the company’s stock after selling 19,384 shares during the period. Simplicity Wealth LLC’s holdings in Amcor were worth $118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riverview Trust Co bought a new stake in Amcor during the first quarter worth approximately $28,000. Quent Capital LLC boosted its stake in Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after buying an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares in the last quarter. UMB Bank n.a. raised its position in Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after acquiring an additional 1,299 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Amcor in the 2nd quarter valued at about $47,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Stifel Nicolaus began coverage on Amcor in a report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price on the stock. Finally, Wells Fargo & Company upped their target price on Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.73.

Amcor Trading Up 1.3 %

NYSE AMCR opened at $11.34 on Tuesday. The firm’s 50 day moving average price is $11.03 and its two-hundred day moving average price is $10.23. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. Amcor plc has a twelve month low of $8.45 and a twelve month high of $11.48. The stock has a market cap of $16.39 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.72 and a beta of 0.85.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. Amcor’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. Equities analysts anticipate that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is 111.11%.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.